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Thread: Watch Valuation for Insurance purposes

  1. #1

    Watch Valuation for Insurance purposes

    Hi Guys,

    Firstly these watches are not mine.

    A friend of my parents asked me if I could help with the value of these watches.

    The only one I think might be worth anything is the a solid gold Omega Constellation, this was given to him about 45 years ago by his wifes late father and has been in the safe ever since!!

    watch number 2 is a GP Gyromatic

    watch number 3 is a MuDu which Ive nver heard of!!

    I have attached some pictures below, the watches are in better condition than the pictures would suggest...especially the Omega.

    Any advice would be greatly appreciated.
















  2. #2
    I have been trying to find similar models on google

    Does between £2500-3000 sound about right for the Omega to be insured for?

  3. #3
    Master
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    Their age and condition including the Omega they aren't worth a great deal. Most old gold watches nowadays are sold for the gold scrap value, unless of course it's something special or rare

  4. #4
    Master
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    Quote Originally Posted by markyd3 View Post
    I have been trying to find similar models on google

    Does between £2500-3000 sound about right for the Omega to be insured for?
    Not quite.

  5. #5
    I'm just really worried that I'm going to give this guy the wrong information.

    Looking at similar watches for sale I thought I was about right? especially with it presumably being 18kt gold?

  6. #6
    Grand Master JasonM's Avatar
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    Quote Originally Posted by markyd3 View Post
    I have been trying to find similar models on google

    Does between £2500-3000 sound about right for the Omega to be insured for?
    You say similar, specifics are really important, I wouldn’t have said that watch was at that level, were you looking at ‘pie pan’ dial Constellation Omega? They might be up there but it’s a specific desirable model.
    Cheers..
    Jase

  7. #7
    An insurance valuation is for the amount you would need to go and buy this today from a dealer. With that in mind i would say a £3k (a private sale head only would be around £1.5k) for the head and the bracelet looks to be 18k so would be around £1k in scrap alone. If I was adding this to my insurance it would be on at £4K - £4.5k.


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  8. #8
    Quote Originally Posted by mr.chef View Post
    An insurance valuation is for the amount you would need to go and buy this today from a dealer. With that in mind i would say a £3k (a private sale head only would be around £1.5k) for the head and the bracelet looks to be 18k so would be around £1k in scrap alone. If I was adding this to my insurance it would be on at £4K - £4.5k.


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    Thankyou :)

  9. #9

  10. #10
    Master
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    Quote Originally Posted by markyd3 View Post
    Now compare condition.

  11. #11
    Quote Originally Posted by nunya View Post
    Now compare condition.
    What does condition have to do with an insurance valuation?


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  12. #12
    Master mycroft's Avatar
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    I imagine that rather than getting umpteen conflicting opinions about insurance value from the forum, your parents friend might be better served by changing his household policy to one that doesn’t need valuations at all - M&S Premier would be my suggestion...

    If you insist on a proper insurance valuation it would need to come from an accredited professional anyway - for which you will have to pay a fee...

    Just a thought.

    Simon

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